It's time to demand respect!!!!!

[GordiaA]

:x

I just wanted to vent today!

A client asked me to come by his personal home in order to appraise it. After a hour walk through of the property, we stopped to discuss his "property value". I patiently listened to his opinions of how this 1979 "custom built" home is worth 1.5 MILLION dollars. After another hour of his "OPINIONS", I had to stop him. I explained to him that we were on two different pages in regards to the value of his home. I would not give him a value, but I provided comparables of similar homes within his area that were in the mid 200's. Needless to say that this was an insult to him. I also provided him with sales of homes that were true 1.5 million dollar homes. After a heated exchange of words, I stated that "It's my opinion that your house is not worth 1.5 million dollars". He then stated to me that "I don't give a #$#* about your opinion. I just want you to find comparables to give me 1.5 million dollars for my house, and if you can't do that, I'll get another appraiser to do it." I expressed my opinion of his comments, and I told him that we can end our working relationship at this time. I will lose three to four thousand dollars a month behind this decision, but it will be a pleasure to provide this former client with cigarette money when he is incarcerated.

It is time for appraiser to stand up a demand the respect that we truely deserve. I'm sure that I'm not the only appraiser to be approached like this, but I feel that if we stand up for ourselves as well as our profession, we will not be replaced by AVM's or the "crooked appraisers".

 

[Farm Gal]

Gordie:

Welcome to the club! You might polish your plaint minimally to further indicate circumstance and probable personal effect and post to Larry's Lender Coersion' thread (initiated just after your post): this sort of issue needs to be gathered together in a single location so that perhaps some few folks might DO something about it...

Having said that, my personal advice is when you see that sort of storm a brewing don't lead with your chin.... Disengage, disembark, and depart before tempers really flare.

You are far from being alone in this matter.

 

[George W Dodd]

Gordie:

Bravo! Bravo!

You are among good company.

 

[bobburnitt]

Right on!!!!!!!!!!!

The most important thing in the world to me is my self respect. I wish everyone is this business would come to that same conclusion.

There are so many appraisers walking around with a mattress on their backs, that when you stand up to these manipulative slobs it turns them inside out. They are used to getting their way, thanks to your 'competition'.

My new policy is: ALL appraisals are fee up front, ESPECIALLY residential mortgage lending assignments. I don't care if I ever do another one.

This allows me more time to focus on prospecting for listings, and makes my life a lot better. No more wasting time on "collections". Until appraisers have some recourse here in Texas, I am going to get it up front or I ain't gonna do 'em.

This policy also puts an end to the inevitable "we need more value". When you've got the money up front, they can't push you around.

It would be a wonderful world if all appraisers would adopt my policy. Ain't gonna happen.

Have a good one,

BB

 

[Dee Dee]

Sometimes losing a client and the income that they can provide you hurts, but you can comfort yourself by remembering that when this jerk goes down in flames he won't be able to drag you along with him. You made the right decision by walking away.
My personal experience is that it usually doesn't take long before new (and usually better) clients fill in the gap.

 

[brunge]

My condolences, I know I would lose sleep over losing a $3k-$4k a month client.

That is one of the most bizarre stories I have ever heard. How could an experienced person in mortgage business think you could inflate the value from $250k to over $1 million. He should know that that it not possible in this world. I guess he expected you to create comps out of thin air. In that case you might as well fabricate the info on his house too, no need to meet him at the property…. You could cut out pictures from Lifestyles of the Rich and Famous.

What a freak.

 

[Ross (CO)]

Lost $300 in '98, and $225 in '99 and not lost one fee since then. I have learned to be more comfortable at selling the c.o.d. payment concept.... when it is called for.....and many can agree to it and some will not. Oh, well, so it goes. I do not chase my money and I have never had to go to small claims court. Almost detected a sense of glee from one recent Forum poster who expressed success at getting payment issues resolved in small court. I guess success in small claims is better than failure in small claims so my hat goes off to him. What an unfortunate waste of time. One thing for sure ..... if I were to get a new order from a new client and they did NOT post their "estimate of subject value" on the order, then I would probably be more inclined to invoice them and simply take my chances. When they do give their glaringly bold estimate #, and all the other poppycock phrases for setting the stage to cancel the order, etc. it an absolute sure bet that this one will be lots of hassles --- and c.o.d is only way I could proceed. Does it seem awkward some times to call and have to make that request ? Sure it does. It is also awkward to have to resend invoices and make a bunch of calls and be rejected. I prefer the first type of awkwardness.

 

[Steve Owen]

GordiaA, congratulatioins. Consider this possibility; in losing that client in that way, you are building a reputation that will cause you to be respected and lead to more work from clients who value and need ethical, professional, appraisal opinions. You may be better off in the long run. (Additionally, you may be surprised by the long-run reaction of the client you think you are losing.)

_______

The purest treasure mortal times afford
Is spotless reputation.

Shakespeare: King Richard the Second

 

[TEL2002]

Gordia,

It is possible you may have stopped a guy from taking a cool 1+ milllion from the bank and moving to RIO or some other such place. Good job!

 

[Verne Hebert]

You go girl!

Well it looks like you were lured into the wolf's den. And it is not a good thing.

For general "value" discussion:

I have searched (and continue to search) for the better to best way to deal with these situations. The best way that I have found, is as soon as any value issue is beginning to be discussed---I tell them that I am just beginning to do the assignment...I am in the research and verifying stage of the assignment and truly have no idea what there property is worth.

Your particular situation is the most difficult. I do not value client property, nor friends and neighbors---Solves alot of problems. Simply be courteous, and offer to refer a colleague or associate for the assignment so as to maintain the existing relationship...and its not easy.

I respect you. And you will continue to maintain respect from fellow professionals.

Good Luck! There is a lot of good business out there!